Foundation for Accounting Education Inc

Analysis

Foundation for Accounting Education Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in December 1972, 54 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending May 2023, Foundation for Accounting Education Inc reported income of $2.7m and spending of $2.7m, spending 100% of its income. Across the 5 years on record, from May 2019 to May 2023, income fell from $4.1m to $2.7m (-35%), an average of -10% a year. The sharpest change came in the year to May 2021, when income dropped by 38%. Over the whole period it spent 118% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Foundation for Accounting Education Inc sits at the 84th percentile: it is larger than about 84% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 85th percentile within NY. Charities of a similar size with the same main cause include Constellation Schools Puritans Community Elementary ($2.7m), Building Bridges Child Development ($2.7m) and F C Steudlein Learning Center ($2.7m).

On its Form 990 for the period ending May 2023, revenue came from contributions and grants 50% and program service revenue 49% of the total. Compensation of current officers, directors and key employees was $237k (8.8% of expenses). Other salaries and wages came to $915k. At year end it held assets of $601k against liabilities of $1.7m, net assets of -$1.1m. It reported 32 employees.